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Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: Elmer who wrote (54896)	5/3/1999 9:33:00 PM
From: MSI	Read Replies (1) \| Respond to of 164684

Did McNamee really say "pretty ugly" referring to an upcoming internet stock correction? If so, your take that "the club has sold" is right on. Because McNamee works for Kleiner Perkins, you have to wonder if they have sold large positions in the internet IPOs they funded in the last 18 months. If that's right, expect 13D filings on ISS Group, VeriSign, Preview Travel, Sportsline, Concentric Networks, @Home, ONSALE, Com21, Intraware, and Amazon. Say it ain't so Wish I could. The music is stopping at least the ones with the most helium in them. McNamee wouldn't have said anything otherwise. I don't want to be an alarmist, but it's hard to sound the alarm otherwise, if you know what I mean, and I think you do. I taped it and w. transcribe when I get home, but basically "75% of the tech stocks are undervalued", after saying the net stocks are highly overvalued, will correct and it's going to "get pretty ugly". Interesting choice of words, considering the source. I take this to signal a rotation from certain internet stocks, into more reasonable techs. I bought Intel today to do something safe with some of the cash and it's up 3% on the day. The other indicators all at once are the mentions on this thread of incompetence on the AMZN conf call, the Barron's slam, and the price action looking ready for a correction. Taken together it all felt like that last little bit at the top of the roller coaster, just before the ....